The UK has taken a major step towards mainstream adoption of digital assets with the launch of GFO-X, London’s first regulated and centrally cleared cryptocurrency derivatives trading platform.

Backed by FTSE 100 asset manager M&G and authorised by the Financial Conduct Authority (FCA), GFO-X will offer institutional investors access to bitcoin index futures and options. The first trade on the new venue was scheduled for Tuesday, marking a landmark moment in the evolution of Britain’s financial markets.

The platform, which describes itself as “institutional-grade”, is partnered with clearing giant LCH — part of the London Stock Exchange Group — which will provide clearing services through its newly developed…